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News (1806)

The Progressive Accountant is the leading online communit of public tax and accounting professionals focused on using technology to better manage and grow their practice.

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WK Handling Higher Wages through Pricing

Wolters Kluwer has been aggressively hiring and also facing a tight labor market which is pushing wages higher.  The company recently said that it will continue its practice of covering through increases through higher pricing.

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NextPoint Overpaid for LoanMe

NextPoint Financial, which owns the Liberty Tax business, said this month it probably “substantially” overpaid for its purchase of LoanMe. LoanMe was purchased on July 2 for about $102 million.

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SmartVault Revs Rise 20 Percent

Revenue for SmartVault rose by 20 percent for the year ended December 31, its parent company GetBusy reported this week. The document management software operations reached about $9.1 million in 2021.

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Corporates Lead WK Tax & Accounting Revs

 

Revenue for its Corporate Performance Solutions business led growth for Wolters Kluwer Tax and Accounting for 2021. The company recently reported that the Corporate business grew revenue by 10 percent in constant currency for the year ended December 31.

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New ProAdvisor Rev Sharing Rolled Out

Intuit has introduced the ProAdvisor Preferred Pricing revenue share program. The program, available for a month’s free trial, is designed to reward clients ProAdvisors enroll within QuickBooks Online Accountant.

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Act'ant Admits Elderly Client Theft

 A Georgia accountant who worked at a wealth management firm has pleaded guilty to stealing about $800,000 from an elderly client over the last 10 years. Heidi Royal, 52, of Dallas, Georgia, pleaded guilty to wire fraud and aggravated identity theft in a federal court this month.

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Challengers: Blucora Board Lacks Experience

 Blucora is facing another proxy challenge with the insurgents claiming the Blucora broad lacks a wide range of necessary experience. Engine Capital has nominated three individuals to the board claiming Blucora, which owns TaxAct and Avantax, has bloated overhead and does not perform as it should in its tax preparation and wealth management businesses.

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Tax/Acc’ting Leads Thomson’s Big 3

Tax & Accounting grew revenue 8.7-percent for Thomson Reuter’s year ended December 31. The rate of increase gave it the biggest growth of the company’s Big 3 divisions. 

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IRS Suspends Balance Due Notices

The Internal Revenue Service has suspended the mailing of balance due and unfiled tax return notices.  These were among more than a dozen letters the IRS added to its list of suspended notices.

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Acquired Units to Enhance SmartVault

GetBusy will roll out features from two companies acquired in October as enhancements to the SmartVault document managed application.

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